not bad Don.
I keep a close eye on the VC funding daily, and the Bio Industry is taking home all the money lately.. Here's today's report:
On a slower day for fundraising, the biggest round of the day was posted by Intracel Holdings, a biotechnology firm focused on developing a vaccine to prevent the reoccurrence of colon cancer that raised $16 million in an on-going Series B led by MPM Capital with participation from previous individual investors. The company expects to raise an additional $4 million in the next few weeks.
Meanwhile in another Series B, Telelogue, a provider of voice-driven directory assistance services, took home $7.5 million co-led by Palisade Capital and the NJTC Venture Fund, an early-stage venture capital fund affiliated with the New Jersey Technology Council. Previous investor Pequot Capital also participated. The company will use the funds as general operating capital and doesn't anticipate raising another round. Telelogue, which has 30 employees, has raised approximately $12 million to date.
Overall, eight companies reported raising $49 million with QRxPharma, a developmental stage bio-pharmaceutical company, announcing that it has raised $5 million in its Series A round led by Innovation Capital. And ProSight, a provider of IT portfolio management software, said it has raised $5.6 million to close its Series E round at $13.8 million. Giza Venture Capital was the overall round leader.